Claremore Daily Progress

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June 28, 2013

Excise Board approves temporary funds

(Continued)

CLAREMORE —

DeLozier only requested funds until the election and commissioner Mike Helm requested his total appropriations for the year.
Collectively, the commissioners requested approximately $7.6 million from the 1 Cent account,  including approximately $1 million in carryover funds.
“Have the commissioners made an assurance that the funds are a available now?” Mullen said.
When the final budget is complete, the commissioners and the budget maker, Bill Turner, will make the necessary adjustments, according to Thacker.
“The money you are asking for here today is actually here now,” Mullen said.
“The money is not here not now. We work on a monthly appropriation,” DeLozier said.
“The money is not in the bank. It is estimated. We go off historical numbers and estimations,” Thacker added.
“If we approve this, where is the money that is going to go into to repay the debt, the 12 1/2 percent?” Ogle said.
Ogle was concerned about the structure and availability of funds to meet the commissioner’s requests and the required payment on the judgment.
The ballot includes the dedication of 12 1/2 percent of the tax collected to pay toward the debt incurred thru a judgment awarded to Material Services in 2009.
“You realize the funds are going to come in from our tax base and our revenue. But,  with this new vote, you’re not going to get all the [1 cent] funds for your roads. Part of that (funds) is going to pay debt,” Ogle said.
“Well, if it passes as it is written on the ballot, the budget maker will have to calculate that in and make an adjustment,” according to Thacker.
“So, the 1 cent account [numbers] will have to be reduced,” Ogle asked. 
Possibly, if the overall collections of the one-cent did not meet the required amount to pay the judgment and meet requested appropriations, Thacker said. 
The total 1 cent tax collections in 2012-13 are approximately $6.8 million.

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